The Jerry Rao-promoted VBHC Value Homes has deferred its initial public offering (IPO, of equity) plan to the next financial year. The earlier plan was to do this in the current one.

“After demonetisation, GST (the new goods and services tax) and Rera (the under-enforcement law to regulator the real estate sector), it (IPO this year) seems difficult. Actually, we wanted to see the March 2018 (quarter) numbers and take a call. But, April-May 2018 seems more logical,” said Jaithirth (‘Jerry’) Rao, chairman at VBHC.

City-based affordable housing firm VBHC Value Homes is planning an initial public offering (IPO) by 2019. The company, which plans to raise upward of Rs 1,000 crore, intends to use the proceeds to expand operations across the country. It may also offer exits to some of its investors.

Ram Walase, CEO, said: “We will launch about one million sqft of projects across Bangalore, Pune and Mumbai over the next year. Some of our existing projects will also see their next phases opening up.”

With an objective to protect consumer interest and to bring efficiency and transparency into the country’s real estate sector, the Government of India implemented the RERA Act nationwide on May 1 this year.

“This regulator will govern all real estate transactions, thus improving the governance on the real estate sector by reducing disputes and making the system more transparent and robust,” affordable housing property builder VBHC’s head of sales-marketing and customer service Narasimha Swamy N said in a statement.